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Cited by 271

The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.

Dutch Auction Repurchases: An Analysis of Shareholder Heterogeneity

BAGWELL, LAURIE SIMON·1992·The Journal of Finance
DOI 10.1111/j.1540-6261.1992.tb03979.x
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Abstract

This paper documents that firms face upward‐sloping supply curves when they repurchase shares in a Dutch auction, and it analyzes the market reaction to these offers. The announcement price increase is highly correlated with the ultimate repurchase premium. Prices decline at expiration only for pro‐rated offers. The cumulative return is positive and highly correlated with the repurchase premium, excepting pro‐rated offers. Much of this price increase is consistent with movement along an upward‐sloping supply curve. Trading volume around the Dutch auction parallels fixed‐price repurchases. Supply elasticity is larger for firms with large trading volume, firms included in the S&P 500 Index, and takeover targets.

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Crossref · 10.1111/j.1540-6261.1992.tb03979.x

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Metadata

Authors
BAGWELL, L. S.
Venue
The Journal of Finance
Publisher
Wiley
Published
1992-03
Volume
47
Issue
1
Pages
71-105
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1992.tb03979.x
OpenAlex
W2121609248
Cited by
271
References
2
FWCI
29.74
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Dutch Auction Repurchases: An Analysis of Shareholder Heterogeneity. https://app.cochat.ai/papers/10.1111/j.1540-6261.1992.tb03979.x
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BAGWELL, L. S. (1992). Dutch Auction Repurchases: An Analysis of Shareholder Heterogeneity. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1992.tb03979.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.